IRDA had a meeting today april 10th 2010 and have issues a statement regarding the sebi order over 14 insurance companies.IRDA has taken the Premium paid as some supporting points and have told that

“The IRDA observes that in the year 2008-09, 7.03 crore ULIP polices involving a total premium of Rs.90645 crores were in force. Further, as on February, 2010, during the period 1-4-2009 to 28-2-2010, 16.7 lakhs policies have been sold with a premium of Rs.44611 crores. It is also observed that the 14 insurance companies have an equity capital of Rs.16281 crones as on 31st March, 2009.”

The verdict they gave to SEBI is if these 14 company stops from doing busioness the whole insurance market will come to stand still and it will jeoparadize the The effective stoppage of the sale of the said products will cause a complete drying up of the revenue flows to the insurance companies which could disrupt the payment of benefits on maturity, on
death and on other admissible claims, putting the policyholder and the general public to irreparable financial loss. The financial position of the insurers will be seriously jeopardized thus destabilizing the market and upsetting financial stability.
IRDA has told according to there insurance act they can do business this way and they will not adhere to SEBI’s policy , it will be good to see whats the SEBI’s outcome of this IRDA Letter.Read more on the IRDA letter to SEBI.

Sebi has come out with the verdict on Insurance company selling ULIPS and it has banned the following insurance company for doing the same . It has been noticed that the following entities have launched several Unit Linked Insurance Products (ULIPs) :-14 Insurance Company

Since, the ULIPs launched by the abovesaid entities were prima facie found to be akin to the mutual fund schemes and were launched without obtaining registration from the Securities and Exchange Board of India (hereinafter referred to as “SEBI”)
under the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “the SEBI Act”) and the regulations made thereunder, notices were issued to these entities on January 15, 2010 (except in case of HDFC Standard Life Insurance
Company Limited where the notice was issued on December 14, 2009). SEBI had sought replies from the said entities as to how the ULIPs were launched without obtaining the requisite certificate of registration from SEBI and why appropriate action should not be taken against them under the provisions of the SEBI Act.Final Verdict : The 14 Insurance Company is restrain from raising further monies/subscription, new and/or additional, from the investors for any product (including ULIPs) having an investment component in the nature of mutual funds till they obtain registration from SEBI.

Gold Price which has already seen its heights for some time now would reach new heights, As we all know that government has proposed a 50 per cent hike in custom duty on precious metals, including gold and silver. Which is like increase from Rs 200 to Rs 300 per gramme on gold almost 100 rs per 10 grams increase and On silver its from the current Rs 1,000 to Rs 1,500 per kilo. This for sure has to be sent directly to the retailers , so in a week or so we can see the price going up by 10 to 20 rs per gram.
BudgetPrecious Metals – Budget 2010 Impacts

>On gold and platinum from Rs.200 per 10 grams to Rs.300 per 10 grams
>On silver from Rs.1,000 per kg to Rs.1,500 per kg.
> Basic customs on Rhodium – a precious metal used for polishing jewellery reduced to 2 per cent.
> Basic customs duty on gold ore and concentrates reduced from 2 per cent ad valorem
to a specific duty of Rs.140 per 10 grams of gold content with full exemption from
special additional duty. Further, the excise duty on refined gold made from such
ore or concentrate reduced from 8 per cent to a specific duty of Rs.280 per 10
grams.

Apollo Hospital stock is something i was thinking a lot today , just that im in and out of the apollo hospital for 2 days now for check up and other reasons , they have kind of started centers across various places all over india, which is kind of normal service which would lead to bigger hospitals , First i was under impression of who would go there now i know they are really doing very good business there.They are doing normal lab test and also they are taking care of general visits , for sure i know most of the IT professionals prefer it because of the cleanliness and also the hospitality , no offence any place is good any doctors are good when the doctor is doing his duty and there is also some cleaniliness in the place.That told Apollo Hospital has both and sure IT people pay double of what they pay outside, this is just from the scenario what i saw in 2 days ,This is specially in chennai .
Anyway it gained Rs.70.35 (11.86 percent). The company opened its stock today at Rs.602 and touched the 52-week high value of Rs.694 in the afternoon trade. Overall 333,072 shares were traded throughout the day with a current P/E ratio at 29.65.May be the stock has gone up a lot , if you want to still buy the stock then may be go for the fund which is holding a lot of it .Franklin Pharma Fund holds 59,535 units of Apollo Hospitals.
As of 24/12/2009

We have thought ok this is good time to invest in gold fund and with the market going down it will be good to invest in equity also and at the same time in gold also , Gold and equity are seeing a good low for 1 week now .So it will be better if there is a fund that invest in both gold and Equity and we just came across after some analysis in valueresearchonline that there is just one fund that does that and its UTI Wealth Builder Serie II Fund.UTI Wealth Builder Serie II Fund

This particular fund invests in both gold and also equity ,When i looked at the objective it ways that the Scheme is to achieve long term capital appreciation by investing predominantly in a diversified portfolio of equity and equity related instruments along with investments in Gold ETFs and Debt and Money Market Instruments.

Dividend category of this Fund had a 52-Week High 15.28 (03/12/09) and a 52-Week Low 9.89 (05/03/09) and also have declared a dividend of 80 paise per unit .

As we can see the gold price are going up and instead of going and buying the gold in shop , we can benefit it from buying the gold as ETF and benefit from it , I have listed the various Gold ETF that is available in the market.Except Quantum Gold Fund , everything else is based on 1 gram gold price , Quantum Gold is Half a gram gold price.Gold ETF

Week before NseIndia launched trading of mutual funds through NSE , BSEindia has also decided to do so , they are going to collabarate with Tata mutual fund and going to start offering the service , this might even happen in 1 or 2 weeks , AMFI was the one who first told that they will start the trading of Mutual Fund and they will start it sometime later in march 2010 , Both NSE and BSe has started it already .Trading mutual fund doesnt mean that we can trade mutual funds like stocks .Its the same way how you trade mutual fund through kotak now , you just buy it and it will be bough for todays NAV thats all and we need to pay for it tomorrow.

Equity diversified NAVs declined sharply with advance:decline ratio of 8:242, as the Sensex closed the session lower by more than 150 points on the back of profit booking. Betterthanexpected IIP (Index of Industrial Production) data failed to cheer the markets today.

Fixed income products have kept the mutual fund industry on an even keel, despite the stormy weather caused by redemptions in equity mutual funds. CNBCTV18\’s Mrinalini Krishna and Priyal Guliani report.

As the markets continued its pullback rally after a day of consolidation, equity diversified NAVs ended strong. Buying interest across sectors, positive global cues, beginning of the government\’s divestment programme and unveiling of first discussion paper on GST regime helped the Sensex and Nifty to rally over 400 and 100 points respectively.

Equity diversified NAVs closed strong with advance:decline ratio of 246:4, as the markets rallied for the fourth consecutive day. Huge buying in banking fiancial stocks and positive global cues helped the Sensex to gain 350 points while the Nifty over 100 points during the day.